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20121129
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calling the fiscal cliff. and yet the consumers we have been talking about are not acting very worried. trying to capitalize on the strong holiday shopping season, the president warned that the economy will spiral downward if it is not addressed. >> i think it is a reason that retailers are so concerned. that congress has not yet extended the middle class tax cuts. >> reporter: the report also estimates that consumer spending could drop by $200 billion by 2013. 31st, there will be a massive fiscal cliff, of large spending cuts and tax increases. >> reporter: the federal reserve chairman coined that term last spring, restoration of 2% in payroll taxes, expiration of unemployment benefits and $110 billion in automatic cuts, to programs like defense. the political sticking points? tax rates, most democrats want tax rates for those making $250,000 a year to go up. republicans want it to stay the same, but would limit the deductions and close loopholes. there is a disagreement on who should be considered wealthy warren buffet argues that the timeline for the rich should be raised from $250
cautious, concerned about the economy and the gridlock in congress over the fiscal cliff. >> they're going to be pulling back a little because they don't know what to expect for 2013 and they want to remain cautious as we move forward into the next year. >> kristen dahlgren reporting. congress returns to work this weekend, stim facing that so-called fiscal cliff. if a deal can't be reached by january 1st, americans would face half a trillion dollars more than in taxes next year. that's coupled with $100 billion in cuts to domestic and defense spending. since the reagan era, most republicans have pledged not to raise taxes. but as nbc's mike viqueira reports, there are some signs of flexibility on both sides of the aisle. >> reporter: it's a pledge almost all republicans have signed, to oppose tax increases of any kind. that once solid wall was showing cracks. >>> the pledge you saw 18 years ago, 20 years ago was for that congress. the world has changed and the economic situation is different. >> reporter: but republicans insist in return for defying party doctrine, democrats must agree to
a year-end fiscal cliff. yesterday the white house took a hard line insisting tax rates have to rise on the rich and warning that anymore delay on the deal could ruin consumer confidence and hurt holiday retail sales. nbc's tracie potts joins us from washington with the details. tracie, good morning. >> reporter: good morning, lynn. today we'll see a continued push by the white house. in fact, for the rest of this week, new details released this morning, still pushing for those taxes on the rich. meantime, here on capitol hill we're seeing some small signs of compromise. today president obama meets with small business leaders continuing his push for higher taxes for the wealthy. a new xhous economic report warns if tax breaks go away, the average middle class family will owe uncle sam another $2200 next year. >> it seems to be the thing we can agree on, that middle class families should see an extension of these tax cuts. >> reporter: some prominent republicans dead set against raising taxes on anyone now hint they may consider other options. >> we've been open to revenue by closing
.s. economy. during the holiday-shortened week the markets moved in tandem for the fiscal cliff. up more midweek. the markets continued to climb on friday. stunning accusations that one of america's iconic companies hewlett-packard which acquired autonomy last year for $11 billion is accusing autonomy of what it called serious improprieties in its bookkeeping and inflating its own value. meg witman says the company lied about how much it was worth. >> we believe there's a willful effort on the part of certain members of autonomy management to mislead shareholders when they were a publicly held companies and mislead buyers including hp and we stand by the forensic review we have seen. as you know, we have turned it over to the fcc. >> we are shocked. we have been pretty ambushed by this today. first we heard about it was a press release and we refute them. they are factually incorrect. we'd like to learn more about them. i'm afraid the details haven't been shared with us. >> reporter: autonomy ceo said the company followed normal accounting practices. hp took an $8.8 billion charge this q
, some lawmakers are willing to go against their own party to avoid falling off that fiscal cliff. >>> and the giants have another reason to celebrate. we'll tell you about the record-breaking payout that was announced this morning. you may be surprised who gets the full share. >>> it's cyber monday. we will look at the deals coming up in business news. [ female announcer ] what would you call an ordinary breakfast pastry that's been wrapped in a flaky crust stuffed with a gooey center toasted up all golden brown then given a delicious design? a toaster strudel. pillsbury toaster strudel. so delicious...so fun. faster than mandy can hang up on mr. monday. you hang up first. [ female announcer ] in just 60 seconds, you've got snack-defying, satisfying totino's pizza rolls. [ ringing ] it's on. let's roll. >>> protesters are back in the streets of cairo and now there are fears a second revolution may be looming in egypt goi following the series of decrees. the decree that gives the president immunity from the nation's courts. nbc reports from cairo. >> reporter: for a fourth straigh
the fiscal cliff. we have tracie potts with details from washington. >> reporter: today, president obama meets with small business leaders. a new white house economic report warns if tax breaks go away, the average middle class family will owe uncle sam $2,200 next year. >> middle class families should see an extension of the tax cuts. >> reporter: some republicans who have been dead set against raising taxes on anyone now hint they may consider other options. >> we have been open to revenue by closing loopholes as long as it is tied to spending cuts and pro-growth tax reform that broadens base. >> you don't raise rates. you cap the amounts of eitemize deductions. >> reporter: america is borrowing too much money trying to keep social security and medicare afloat. >> there will come a point in time where we can't borrow anymore money and interest rates will sky rocket. >> this congress is already one vote away from avoiding the fiscal cliff. >> reporter: and no word yet on when the next white house meeting will happen. tracie potts, nbc news, washington. >>> thank you. the governor of new
to talk about averting the tax hikes and budget cuts from the so-called fiscal cliff. the president met with small business owners yesterday to talk about the effect on their companies from taxes and other changes. and right now congress is stalled over finding a solution as democrats demand higher taxes for high wage earners while republicans want cuts to entitlement programs. >>> elsewhere on the hill, u.n. ambassador susan rice spent her day behind closed doors explaining statements she made back in september about those deadly attacks on the u.s. consulate in libya. her defense failed to convince her republican critics. nbc's tracie potts is on capitol hill with more on this. tracie, good morning to you. >> lynn, good morning. rice admitted that when she said the ambassador and three others who were killed were the result of spontaneous attacks, the information was partially wrong. as she has done before, in a statement after her meeting, she blamed it on bad intelligence information, talking points where references to al queda had been taken out according to sources and attacked ch
's looming. the so called fiscal cliff is getting closer and apparently no movement in congress to avoid it so far. the impasse is over raising tax rates on upper bracket income earners. republicans say they're willing to consider a tax hike but they want larger cuts made to benefit programs. the small business leaders came to avoid the cliff and tax hike on the middle class. on friday he's off to philadelphia where he will make a public case for his strategy and two gop leaders. >> rather than sitting down with lawmakers of both parties and working out an agreement, he's back on the campaign trail. >> the election was conclusive in terms of which path the majority of the american people want to take. >> house republicans are also planning to hold events in the coming weeks with small business owners to highlight the effects the tax increase could have on them and their likelihood. how does the fiscal cliff impact california? larry, a lot of talk on how it will impact high earners. a lot of middle income class folks could feel it as well. >> if we go over the fiscal cliff, we're going to
shoppers say they will be cautious concerned about the economy and the gridlock of the fiscal cliff. >> they will pull back. they don't know what to expect for 2013. they want to remain cautious as we move into the next year. >> reporter: to that point, two-thirds of shoppers say they will use cash or debit cards. we're seeing consumers do a lot more research online and smartphones. kate. >> retail analysts predicting another first this year. for the first time ever online shopping could exceed 10% of all holiday spending. the folks who track these things tell us that amazon was the most visited retail site of all over the holiday weekend, but what happens after your click your mouse and make a purchase. we got an inside look at one of amazon's largest hubs in the u.s. >> reporter: from the moment you check out at amazon.com the process begins. your item is picked, sorted, packed and shipped. this is what the holidays look like here at amazon. to give you some perspective this is one of 40 across the country packed with thousands of items in time for the holiday rush. they're going
on the verge of a second obama term in office? the economy, the fiscal cliff talks, the president's priorities in the next four years. our roundtable is here. david brooks of "the new york times." msnbc's reverend al sharpton. former ceo of hewlett-packard carly fiorina >> historian and film maker ken burns. and nbc chief foreign affairs correspondent andrea mitchell. and we'll here from representative gregory meeks this morning as we check in on some of the hardest-hit victims of hurricane sandy and see how they offered thanks this weekend while surrounded by destruction. >>> from nbc news in washington, the world's longest-running television program, this is "meet the press." with david gregory. >>> president obama doing his part for the economy over the weekend out holiday shopping as part of small business saturday, picking up several children's book at an independent bookstore iypÑarlington. >>> meanwhile, uncertainty in the middle east. more clashes in egypt over the weekend as police use tear gas this morning to disburse protesters in cairo. i want to start there. we have "new york tim
's bring it back home, and the fiscal cliff talks that are going to begin this week. as chairman of the armed services committee, of course, all of these defense jobs that are imperiled by what's called sequestration, meaning automatic spending cuts, half of which would come from defense, you're talking about $50 billion a year starting in january for 10 years unless this deal is averted. by the deal, i mean the automatic cuts that were agreed to to raise the debt ceiling before. if i have a defense job, how worried should i be? >> well, i think you should be worried if you have a defense job, but we all ought to be worried whether we are dependent upon other aspects of the federal budget. whether you're worried about the regulation of our food safety, whether you're worried about our borders being secure, whether we're worried about the fbi being supported. it's all affected by sequestration. the key here is whether or not the republicans will move away from the ideologically rigid position, which has been the grover norquist pledge, which most of them signed, that they will not
the so-called fiscal cliff. that's when spending cuts and tax increases kick in. lawmakers from both parties are racing the clock to reach a compromise but despite a lot of optimism there is no plan on the table. brian moore has the story from washington. >> reporter: back from an extended holiday and facing a looming deadline, lawmakers from both parties seem optimistic about diffusing the fiscal cliff time bomb. >> unfortunately, for the last ten days with the house and congress gone for the thanksgiving recess there hasn't been much progress made. tomorrow there's no excuse. we are back in town. >> reporter: democrats want to raise taxes on the wealthiest americans and republicans who once refused to raise taxes on anyone ever are signaling their willingens to compromise. >> when you are $16 trillion in debt the only pledge we should be making to each other is to avoid the coming grove and republicans, republicans should put revenue on the table. >> the world has changed and the economic situation is different. ronald reagan and tip o'neill realized that in t '80s. already if repu
. >>> with the fiscal cliff looming, the white house today continued its hard line, insisting that tax rates have to rise for the rich, and warn that any more delays would ruin consumer confidence. there are signs of movement on capitol hill, but democrats are not willing to cut social security and medicare. and while some republicans agree the rich should pay more, they want to raise money by reducing deductions, not through higher tax rates. >> i don't care if you raised taxes 100% on the wealthy, you're not going to fix the deficit problem. >> the president has made clear that he will not sign a bill that extends the bush era tax cuts for those make mortgage than $250,000. >> billionaire warren buffett, an obama ally today wrote an editorial in "the new york times," calling for a higher minimum tax for the wealthy. >>> a shake-up in the middle east in politics today as an israeli moderate resigns. israeli defense minister ehud barack abruptly quit politics today, saying he'll only finish out his term. the obama administration had embraced him as a moderate influence on benjamin netanyahu's har
, d.c., the president meeting with corporate executives today discuss that fiscal cliff. scott mcgrew got on the silicon valley's name. >> president obama has met with many ceos, and while lots of ceos have experience and wisdom to lend him, got to see this in a bit of a political light as well. melissa meyer, for instance, is brilliant but probably knows very little about public policy. she's an engineer, so the president getting advice, but drumming up support among the powerful for his version of what we should do about the cliff. myers spoke in a fortune magazine clip last night. her secret, she says, is prioritizing, she referred to green bay packers vince lombardi's three priorities, god, family and the packers. >> for me, it's god, family and yahoo! in that order. >> why the packers comparison? meyer drew up in wasaw, wisconsin. >>> we go back to the summit on highway 17 and check in with bob redell with the wind conditions there. bob, luke soaked? >> reporter: yeah, it's slightly wet up here. we've got a break, that's one thing that chp is pointing out just because the rai
shares are still down about 30% from the initial public offering back in may. >>> with the fiscal cliff edging closer, the white house took a hard line, insisting they have to rise from affluent americans and many more delays could hurt hol dha roadway tail sales. >> the senate will come to order. >> back from thanksgiving, senators are on the sidelines. >> really we have to make tough decisions. >> the house has the ball. >>> i don't care if you raise taxes 100% on the wealthy. you're not going to fix the deficit prap. >> the republican leader is talking about it. but republicans are open to new rev new because of the new reality. >>> well, the president got reelected and we know at the end f this year taxes are going up on everybody. >> republicans say if the rich do pay more it should come only by reducing their tax deductions. democrats still insist on a rate hike on the rich. >> the president has made clear that he will not sign a bill that extends the bush era tax cuts or those making more than $250,000. >> billionaire warren buffett, an obama ally, again with a rate hike on the r
a way to avoid that so called fiscal cliff that could raise your taxes and throw the economy back into recession. kristen welker is in our washington bureau. good morning. >> reporter: president obama is also facing a number of challenges overseas, as you say, from the unrest in the middle east to the continuing fallout over the attack on the u.s. consulate in benghazi. but the fiscal cliff looms large. president obama returning from a post-thanksgiving round of golf, but off the links, the clock is ticking. lawmakers need to hammer out a deal to prevent the so called fiscal cliff. deep spending cuts and tax hikes set to take effect next year. >> i think we're all aware that we have some urgent business to do. >> reporter: after a meeting at the white house last week, congressional leaders struck a rare tone of bipartisanship. >> we had a very constructive meeting with the president. >> we feel very comfortable with each other. >> reporter: but a major sticking point remains -- taxes. president obama wants to let the bush era tax cuts expire for the wealthiest americans. many repu
, but that doesn't mean a break in talks about the impending fiscal cliff. lobbyists are launching new tv print and radio ads. lawmakers are struggling to agree on a deficit cutting deal and now are facing added pressure from special interest groups. danielle lee has more from washington. >> reporter: congress may need to drown out the noise next week as they look more common ground to avoid $500 billion in tax increases. several unions launched an ad campaign, pressuring lawmakers to protect entitlement programs. >> for working families, it's not about cutting things we rely on most. >> reporter: advocates for the elderly, weaponsmakers, the oil and gas industry, even charity. >> congress has failed to do its job for the past ten years and they are so far continuing to fail to do their job. >> reporter: rick edleman worries the tug of war could end with no solution. a real possibility, as democrats reject spending cuts and republicans resist tax increases. >> if you're in congress, you can reduce taxes on january 2 relative to the new rates that prevail starting then. >> reporter: it's a dance
. then where does america stand on the verge of a second obama term in office? the economy, the fiscal cliff talks, the president's priorities in the next four years. our roundtable is here. david brooks of "the new york times." msnbc's reverend al sharpton. former ceo of hewlett-packard carly fiorina >> historian and film maker ken burns. and nbc chief foreign affairs correspondent andrea mitchell. and we'll here from representative gregory meeks this morning as we check in on some of the hardest-hit victims of hurricane sandy and see how they offered thanks this weekend while surrounded by destruction. >>> from nbc news in washington, the world's longest-running television program, this is "meet the press." with david gregory. >>> president obama doing his part for the economy over the weekend out holiday shopping as part of small business saturday, picking up several children's book at an independent bookstore iypÑarlington. >>> meanwhile, uncertainty in the middle east. more clashes in egypt over the weekend as police use tear gas this morning to disburse protesters in cairo. i want to
with one big issue staring them in the face. how to avoid going over the so-called fiscal cliff? if they do not reach a deal your taxes could rise and sharp spending cuts would go into effect as well possibly triggering a recession. chuck todd is nbc's political director and chief white house correspondent. chuck, good morning to you. >> good morning, savannah. >> the goal here is to get a deal that reduces the deficit, and the battle lines have been pretty clear right now. the president campaigned rolling back the tax breaks for the highest earnings and republicans argued spending cuts are the way to get the deficit under control. are we starting to see a softening of those positions on both sides? >> reporter: here's what there's agreement on. both sides, both parties agree that the wealthiest have to pay more, and the question now and the sticking point at this stage is how do you go about making the wealthiest pay more? do you do it by raising the tax rates? that's what president obama wants to do. wants to raise the tax freights 35% where they are now up to where they were during the c
that the president has to win the battle over a fiscal cliff. he's got those on the left who doesn't think it is a cliff and he needs to get the business community to put pressure on the republicans to get a deal before christmas. the president is playing it right so far, making it about the middle class and get the rich people to pay their taxes. it's really a tough fight. if this were his only fight it would be a tough fight. >> let's turn back to rice for a moment and look at the substance of that. she acknowledged was what she did was repeat unclassified talking points that came from the intelligence communities. if she had classified information that was somehow different or would have added more to it, obviously she couldn't have said it on the sunday shows, but should she have been more direct that the information she was providing to the american people was at that point not just preliminary but incomplete? i guess the bottom line is did she mislead? >> right. i think the big question -- it is a question. we don't have the answer. was she a flack out there in politics, mouthing the
're at a new time high on that. >> as we come to the fiscal cliff in the next month or so and one of the sticking point, tax rates for the wealthy, you favor a minimum tax rate for the wealthy of 30% for taxable income between $1 million and $10 million, 35% for income over that. do you see the political will in washington right now to accomplish that and come up with a compromise? >> i wouldn't be surprised if it happens. >> that deal? >> that deal could happen, sure. i mean, i think there's a generally feeling among the american public certainly and even among many in congress that the rich like me have been getting away with low tax rates, and it's time to make the tax rates more progressive. >> one of the ideas being pushed out there by the right is that if you raise taxes on the wealthy it will have a chilly effect on hiring in the country. part of the op-ed you wrote, bear with me. suppose that an investor you admire and trust comes to you with an vest deal. this is a good one, he says enthusiastically. i'm in it and i think you should be, too. your replay possibly be like t
. >>> now, let's head to wall street. >> good morning, nootly. after intense focus on the fiscal cliff negotiations, the markets could put the spotlight back on the european debt crisis amid a deadlock in greek debt talks. it's going to be a quiet day. it's the day before thanksgiving. u.s. economic data is not yet on the -- consumer sentiment data, jobless claims and an outlook indicator to give us guidance for the markets today. >> mandy drury, have a happy thanksgiving. >> you too. >> thanks. this could be the best night on the basketball court ever. jack taylor obliterated the ncaa record last night when he scored and scored and scored again. 138 points in a single game. making 52 of 108 attempted shots. the previous scoring record was set back in 1954 with 113 points. the feat is so impressive even the pros are tipping hats with kevin durant tweeting, jack taylor, you deserve a shot of jack daniel's after that performance. not going to help him out in his performance ahead. we'll talk to him, though, coming up shortly. which is fantastic. matt, savannah and al. >> his arm must hur
Search Results 0 to 22 of about 23 (some duplicates have been removed)

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